Online merchants must keep customers secure. eCommerce merchants can gain superior data efficacy and organizational visibility and optimize their customer experiences by partnering with an expert. Online spending is rising, with over 2 billion people buying products or services online. Frost & Sullivan found that eCommerce in the United States…
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Banking and telecommunication systems not compromised. The Infocomm Media Development Authority (IMDA), Monetary Authority of Singapore (MAS), and Singapore Police Force (SPF) said that malicious actors overseas had diverted and used SMS one-time passwords (OTPs) to perform fraudulent credit card transactions affecting 75 bank customers in Singapore. These transactions, amounting…
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The move to digital and online transactions has increased the risk for fraud. The cost of fraud for retail, ecommerce and financial institutions is high. According to the LexisNexis Fraud Multiplier – the total amount of loss a firm occurs based on the US dollar value of a fraudulent transaction…
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Traditionally a year or two passes before a fraud is identified. Australian businesses believe the risk of fraud will increase this year, despite an expected move away from the widespread remote working which left them more open to being a victim, a KPMG Forensic survey has revealed. KPMG’s survey of…
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MailGuard has intercepted a series of malicious emails faking COVID-19 financial relief. Cybersecurity company Mailguard has warned the public that emails with titles such as “See Covid19 relief payment that has been paid” or “BLOCKCHAIN: See Payment Approval for Covid19 Donation”, are likely from compromised email accounts. Some of these…
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